Question: Assuming a perpetual inventory system and the last-in, first-out method, determine (a) the inventory on November 30 and (b) the cost of the goods sold

Assuming a perpetual inventory system and the last-in, first-out method, determine (a) the inventory on November 30 and (b) the cost of the goods sold for November.

Nov. 1 Purchased 600 units $80 each

4 Sold 200 units

11 Purchased 350 units $82 each

12 Sold 275 units

22 Purchased 175 units $84 each

23 Sold 155 units

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